RISING global fuel prices resulting from unrest in Northern Africa and the Middle East are jacking up the costs of local electronics exporters, according to the Semiconductor and Electronics Industries in the Philippines Inc. (SEIPI).
In a press conference, Dan Lachica, SEIPI chairman, on Friday said that prices of raw materials have risen by a tenth since tensions in the Middle East began. Raw material costs comprise up to 70 percent of semiconductor and electronics exporters’ costs, he said.
But Philippine-based electronics firms don’t export to the Middle East so they are far from the risk of potential losses because of the upheaval there, said Ernesto Santiago, SEIPI president.
Latest government data showed that electronics exports in January reached $2.142 billion, up 5.31 percent year-on-year but down 5.05 percent month-on-month.
Electronics accounted for about 61 percent of total Philippine exports.
Semiconductor and electronics exports this year are expected to grow by a tenth to about $34 billion from the highest-ever $31.1 billion posted last year.
The six-year industry roadmap targets $50-billion worth of exports by 2016. –Ben Arnold O. De Vera, Reporter, Manila Times
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September 18 –
International Equal Pay Day
“Increase wages now,
more than other cost items.
For widespread, practical equality!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
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October –
Monthly Observances:
Industry and Commerce Safety Month
National Statistics Month
Local Government Month
Consumer Welfare Month
Cooperative Month
National Quality and Productivity Improvement Month
National Health and Wellness Tourism Month
National Indigenous Peoples Month
Weekly Observances:
Week 1: Elderly Filipino Week
Week 2: National Health Education Week
Local Government Week
National Mental Health Week
October 17-23:
National Week for Overcoming Extreme Poverty
October 18 – 24:
United Nations Week
Last Week:
Nurses’ Week
Consumers’ Protection Week
Week of the 4th Sunday:
Barrio Farmers’ Week
Daily Observances:
First Monday (Oct 4): Universal Children’s Day i
n the Philippines
Oct 5: National Teachers’ Day
Oct 10: Local Government Day
Third Thursday (Oct 14): Conflict Resolution Day
Oct 21: Tenants’ Emancipation day
Oct 24: United Nations Day
Oct 29: National Indigenous People’s Thanksgiving Day
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